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The Reserve Bank of Australia says describing the Australian property market as a bubble is “unrealistically alarmist”.
Assistant governor of the RBA, Malcolm Edey, says while house prices are increasing it’s part of a normal cycle of price growth and decline.
“Demand for housing is strengthening at the moment there’s no doubt about that but it’s important to keep this things in perspective,” Edey told Financial Services Conference in Sydney yesterday.
“Looking back over the last 10 years or so house prices have risen at a rate similar to or on average less than the growth of household incomes so the ratio of house prices to incomes over that period has been roughly flat or most of the time tending actually to fall.
“Within that trend however inevitably there will be cycles and there have been periods where that ratio has been rising and periods where it has been falling, or to put it another way periods when the rate of increase in house prices have been higher than average and periods when it’s been lower than average.”
He acknowledged that house prices are increasing faster than average right now but said this doesn’t constitute of bubble.
“We shouldn’t be rushing to reach for the bubble terminology every time the rate of increase in house prices is higher than average because by definition that’s 50% of the time and you’re just going to be unrealistically alarmist by making that call every time that happens,” he said.
He clarified the wording of the RBA’s minutes released on Tuesday.
“This is an area to watch but we do need to keep it in the sort of perspective that I’ve just been talking about.”
Meanwhile 1300HomeLoan boss John Kolenda has called for the RBA not to increase rates.
“We would not like to see any knee jerk reaction from the RBA should economic conditions continue to improve," he said.
He said the RBA lifted rates too high and too fast during 2009 and 2010 after lowering them in response to the global financial crisis.
“That caused a lot of damage to businesses and consumers with the RBA since then making eight rate cuts to try and make amends and stimulate activity,” he said.
 “Borrowers remain particularly vulnerable to the impact of a rate increase while they continue to deal with significant rises in the cost of living and all the other concerns surrounding the economy.”
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Bubble concerns “unrealistically alarmist”: RBA

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Melbourne is at risk of losing its liveability with an inexorable creep of its low density urban sprawl, the Department of Infrastructure and Transport.
It quoted Terry Rawnsley and Marcus Spiller in its State of Australian Cities 2013 report published recently.
“Metropolitan Melbourne may be drifting towards a seriously divided city which cannot credibly claim sustainability or superior liveability. Just as importantly, this urban structure is doing nothing to improve human capital and labour productivity at a time when the nation is in pressing need of a boost in this area,” it quoted.
“This disadvantageous pattern of urban development may not be planned and its consequences not intended. But it is certainly not accidental. Successive generations of plans for metropolitan Melbourne have promoted a poly-nucleated structure.”
It says there is more of a push towards low density satellite towns which take people away from employment – running counter the aims of a city.
“The reality, however, is that the metropolis is afflicted with relentless pressure for low density urban expansion into districts that are increasingly distant from the main concentrations of employment.”
“This pressure is fuelled by a compelling bipartisan agenda to improve housing affordability for ordinary households. Regrettably, trying to solve the affordability problem by cutting up more land on the urban fringe may be like trying to fix a flagging economy by printing more money.
“Ultimately, this approach may devalue the whole metropolis and compromise its capacity for sustainable prosperity.”
The report later says the outer fringe is dominated by new home owners though scattered with renters.
“In Australia’s larger cities, home renters predominate in the centre while outright homeowners are generally found in the middle suburbs. In the outer suburbs new homes are being purchased – this is the so-called ‘mortgage belt’. On the fringes of cities there is an outer belt of home renters. This outer belt of renters appears to be little studied,” the report said.
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Melbourne's urban sprawl decreases its liveability

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The Reserve Bank of Australia has indicated it may still lower interest rates though likely not in the short term.
It was enthusiastic about the response to previous rate cuts, according to RBA minutes published today.
“Members agreed that the Bank should again neither close off the possibility of reducing rates further nor signal an imminent intention to reduce them. The Board would continue to examine the data over the months ahead to assess whether monetary policy was appropriately configured,” the minutes said.
It said building activity had increased, dwelling prices increased to 7% above previous troughs, clearance rates are noticeably higher than a year ago and housing turnover has increased.
“Overall, recent data and information from liaison were consistent with further recovery in the established housing market and moderate growth in dwelling investment.”
It said previous cuts worked well to provide policy stimulus, particularly in housing.
“Lending rates had declined to historically low levels as a result, which, together with the lower – though still high – exchange rate, were continuing to provide a substantial degree of policy stimulus to the economy.”
“This was most evident in the housing market, with the lags in the effect of policy meaning that earlier actions were still likely to take some time to have their full effect on demand more generally.”
But it warned banks to remain vigilant in their lending policies.
“Members observed that banks' asset performance and funding structures continued to improve, and their profitability remained strong compared with that seen in most other advanced economies. In the current environment of low interest rates and slow credit growth, members agreed that it was especially important that banks maintained prudent lending standards.”
It warned it could start looking closely at property gearing in self-managed super funds.
“Property gearing in self-managed superannuation funds was one area identified where households could be starting to take some risk with their finances; members noted that this development would be closely monitored by Bank staff in the period ahead.”
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RBA says it could still lower rates

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The International Monetary Fund has warned that low interest rates and low inflation can fuel a property bubble even in countries with economic tranquillity.
It doesn’t isolate Australia but it has called for stricter bank lending standards to mitigate the threat of a property bubble.
“Where low policy rates are consistent with low inflation, they may still contribute to excessive credit growth and the build-up of asset bubbles and sow the seeds of financial instability,” the IMF wrote in its staff paper titled “Key Aspects of Macroprudential Policy”.
“Country experiences suggest that exposures to tail risks, including sharp changes in interest rates, house prices and exchange rates, tend to increase in the run-up to crises as lending standards fall and the terms of financial contracts change,”
It says there should be a global tightening of lending standards.
"A number of countries have found that the pass-through of an increase in capital requirements on mortgage loans to loan growth can be limited when strong increases in asset prices and credit feed each other,” it says.
"This suggests the use of additional tools that act on the demand for credit and directly increase the resilience of borrowers to shocks."
Tools it advocates include limits on loan to value ratios and debt to income ratios which it says mitigate the effects of low interest rates on financial stability.
“An LTV ratio introduces a cap on the size of a mortgage loan relative to the value of a property, thereby imposing a minimum down payment. A DTI ratio restricts the size of a mortgage loan to a fixed multiple of household income, thereby containing unaffordable and unsustainable increases in household debt,” the report says.
“The available research suggests that these tools can reduce feedback between credit and prices in upswing, as well as improve resilience to shocks, thereby reducing default rates and boosting recovery values when the housing market turns.
“However, they can also be seen as more intrusive and calibration can seek to soften their impact, e.g., by exempting first-time buyers. Moreover, the evidence suggests that LTV ratios can have a relatively strong effect on house prices and aggregate demand, which can justify a gradual approach to tightening of such ratios (as in Canada and the Netherlands).
It also says imposing taxes will help offset the risk of a property bubble.
“Taxes can also affect asset prices. As future tax liabilities are capitalized, in principle, imposing taxes during a boom can make bubbles less likely; or the announcement of future tax relief on asset returns can support asset prices during a bust,” the report says.
“For example, during the crisis countries have used tax measures to bolster house prices by removing stamp duties on housing transactions or extending mortgage interest relief. Stamp duties have more recently also been used in a number of countries to lean against house price appreciation, such as in Singapore and Hong Kong.”
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Low interest rates fuel property bubble: International Monetary Fund

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Stockland is the most sustainable real estate company in the world, according to the 2013-2014 Dow Jones Sustainability Index.
The index looks at the environmental, social and economic performance of companies.
It assesses corporate governance, risk management, climate change strategy, environmental management, human capital development and stakeholder engagement.
“Recognition of Stockland as a global leader reflects our commitment to embedding sustainability into our everyday business practices,” Stockland Mark Steinert said.
“There is inherent value creation that includes, but also goes far beyond, monetary measures and we place a strong emphasis on our environmental performance, social inclusion and diversity in everything we do.”
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Stockland wins sustainability award

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Banks are increasingly aggressive in their bid to poach mortgage customers according to the chief executive of Bendigo and Adelaide Bank.
He says there is less competition for depositors in recent months as banks push for mortgages in a time of subdued demand for credit.
“On the assets side, it is quite aggressive on the home loan book at the moment,” Hirst said in an interview at the Bank of America investor conference in New York attended by The Australian Financial Review last week.
He says National Australia Bank’s offer of $1000 to switching borrowers equated to about $4 a week over the life of a mortgage.
Westpac has increased the discount on its new home loans by 0.9%, which ME Bank and AMP are increasing commissions paid to brokers and Macquaririe Bank has been competing aggressively for customers.
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Banks compete for mortgage customers: Bendigo and Adelaide Bank chief

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The administrators of a Broome resort development are reportedly due to sell 75 luxury apartments in one line.
Tropicana Enterprises was redeveloping the Tropicana Inn in Broome but entered in administration in June this year after poor sales.
Administrators KordaMantha told The Australian Financial Review possible buyers could easily emerge from Asia.
The company reportedly owes financier Bankwest $25 million.
The run of apartments will be sold by CBRE.
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Broome resort administrators to sell 75 apartments in one line

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Demand for land in the Gold Coast and the Sunshine Coast has collapsed with lot production levels at less than a third of levels in 2007 and 2008, according to research firm BIS Shrapnel.
A 30-year low for net interstate migration into Queensland in 2010/11 compounded by an excess dwelling supply and a reduced affordability advantage over Brisbane has slashed demand for new dwellings, BIS Shrapnel says.
It says supply is further constrained by limited access to finance for developers due to lingering financial constraints after the global financial crisis.
“We expect any upturn in the both the Gold Coast and Sunshine Coast markets to be relatively slow,” BIS Shrapnel’s Angie Zigomanis says.
“There is little pent up demand in both markets despite the low level of new dwelling supply, while local economic conditions remain weak.
“Two of the main economic drivers of both regions are tourism and construction, and while there is some light at the end of the tunnel with large social infrastructure projects commencing in both regions, it will be some time before these two sectors can contribute substantially to employment growth.”
But he says low level of new dwelling activity means excess stock is being absorbed and vacancy rates are rising which will lead to an improvement in residential demand.
But any recovery hinges on stronger conditions in Brisbane.
He forecasts a rise in lot production levels in 2013/14 – although he says activity will remain painfully low until stronger rises emerge from 2014/15.
Lot production will double to 2,600 lots in the Gold Coast and 2,100 lots in the Sunshine Coast by 2016/17 but will remain well below the peak of 2006/07, BIS Shrapnel predicts.
He says developers may reduce lot sizes to boost affordability though new lifestyle home buyers may not accept smaller lots.
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Demand for land in Gold Coast has collapsed

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Art dealer Adrian Slinger’s one hectare beachfront property in Noosa is being sold in a mortgagee in possession sale.
Slinger bought the property, at <a href="https://www.offermann.com.au/buying/71_seaview_terrace_sunshine_beach/">71 Seaview Terrace</a> in Sunshine Beach, in 2002 for $4.35 million, according to RP Data.
Prior to that it sold for $680,000 in 1987.
In July it was offered for $8.8 million but failed to sell, leaving the banks in control of the property.
The property borders the Noosa National Park and reportedly neighbours properties owned by Pat Rafter, art dealer Philip Bacon and Oakley Sunglasses baron Steve Perry.
Slinger owns a gallery in Noosa Heads.
He represents Australian painter  David Rankin and stocks art from Charles Blackman, Arthur Merric Bloomfield Boyd, Ray Austin Crooke, Frank George Hodgkinson, Elwyn Augustus (Jack) Lynn, Victor Majzner, Jeffrey T. Makin, Sidney Robert Nolan, John Henry Olsen, John Peart, Clifton Ernest Pugh and Albert Lee Tucker.
The Australian Financial Review reports he was offered more than $15 million for the property in 2007.
It is being sold by agent Tom Offermann who says there are 20 potential buyers listed for the September 27 auction.
“Values have been quite depressed here with a minimum 30% drop in values,” Offermann told The Australian Financial Review.
“However, there is really nothing negative left holding people back from entering the market. Interest rates low and as people look to roll over term deposits, they are looking to get into property instead.”
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Art dealer's Noosa property in mortgagee sale

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The National party has warned there could be a rush of foreign investors buying farms if the Coalition does not quickly implement its foreign investment review changes.
The Coalition plans to lower the price threshold for scrutiny of foreign purchases of rural land from $248 million to $15 million.
Nationals senator John Williams told a post-election meeting that the government would need to act quickly to mitigate a rush of buyers coming in before the new threshold comes into place.
“I want to see these things done sooner rather than later. If the message is out there that we are going to tighten regulation, there could be a mass purchase of some properties to get in before the rules change,” he told the meeting according to The Australian Financial Review.
Fiona Nash also says the government needs to move quickly.
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Delays on foreign investment changes could lead to farm-buy rush: Nationals

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

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Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

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The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

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Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

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Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

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Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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Alistair Walsh

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